Eagle Bancorp, Inc. (NASDAQ: EGBN – get rating) announced a quarterly dividend on Tuesday, September 20, Zacks reports. Shareholders of record on Monday October 10 will receive a dividend of 0.45 per share from the financial services provider on Monday October 31. This represents an annualized dividend of $1.80 and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, October 6.
Eagle Bancorp has a payout ratio of 36.1%, indicating that its dividends are sufficiently covered by earnings. Stock research analysts expect Eagle Bancorp to earn $5.05 per share next year, which means the company should continue to pay its $1.80 annual dividend with an expected future payout rate of 35.6%. .
Eagle Bancorp trades down 0.9%
Eagle Bancorp shares opened at $47.12 on Thursday. Eagle Bancorp has a 12-month minimum of $44.85 and a 12-month maximum of $63.84. The company’s fifty day simple moving average is $48.22 and its two hundred day simple moving average is $50.51. The firm has a current ratio of 0.79, a quick ratio of 0.79, and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.51 billion, a P/E ratio of 9.70, and a beta of 0.92.
Eagle Bancorp (NASDAQ: EGBN – get rating) last published its quarterly earnings results on Wednesday, July 20. The financial services provider reported earnings per share of $0.78 for the quarter, missing the consensus estimate of $1.15 per share ($0.37). Eagle Bancorp had a return on equity of 13.01% and a net margin of 39.92%. The business had revenue of $88.48 million for the quarter, compared to analyst expectations of $91.00 million. During the same quarter of the previous year, the company earned $1.50 EPS. As a group, stock analysts predict that Eagle Bancorp will post earnings per share of 4.97 for the current fiscal year.
Institutional Negotiation of Eagle Bancorp
Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Eagle Bancorp by 2.3% during the second quarter. Legal & General Group Plc now owns 92,779 shares of the financial services provider valued at $4,398,000 after acquiring an additional 2,061 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Eagle Bancorp by 178.6% during the second quarter. Goldman Sachs Group Inc. now owns 174,169 shares of the financial services provider valued at $8,257,000 after purchasing an additional 111,664 shares last quarter. Thrivent Financial for Lutherans increased its position in Eagle Bancorp by 50.6% during the second quarter. Thrivent Financial for Lutherans now owns 39,172 shares of the financial services provider valued at $1,857,000 after purchasing an additional 13,165 shares last quarter. Price T Rowe Associates Inc. MD increased its position in Eagle Bancorp by 1.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 19,864 shares of the financial services provider valued at $942,000 after purchasing an additional 230 shares last quarter. Finally, AQR Capital Management LLC increased its position in Eagle Bancorp by 114.7% during the second quarter. AQR Capital Management LLC now owns 54,849 shares of the financial services provider valued at $2,600,000 after acquiring an additional 29,307 shares during the last quarter. Hedge funds and other institutional investors own 73.95% of the company’s shares.
Wall Street analysts forecast growth
Separately, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday.
About Eagle Bancorp
Eagle Bancorp, Inc operates as the banking holding company for EagleBank providing commercial and consumer banking services primarily in the United States. The company also offers several consumer and business loan products including business loans for working capital, equipment purchases, real estate lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction and commercial real estate loans; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.
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